El Prado Group

The community bank “El Prado” will begin its first cycle in “Pro Mujer” (For women) as part of “Centro Focal de Los Andes” (Focal Center of the Andes). It is made up of 6 members and is governed by a board of directors where Maria Eugenia is the President. The businesses that the members of the community bank have are various and include: food sale, sale of baby clothes, sale of clothing, sale of cheese. The loan they are requesting will benefit small micro-enterprises where Maria Eugenia is a member. She says that it is the first time that she is a member of “Pro Mujer.” She joined through an invitation from a promoter of the institution that went to her home.

Currently, she has a business creating clothing (sewing and knitting). She started this business when she came from Brazil with the desire to have her own business.

The loan that she will take out is to increase capital (purchase fabric) that she buys from the wholesale distributors and will create and sell in her store. This form of work allows her to generate income to maintain household expenses. She has a civil union and two children.

When she is asked what she likes about “Pro Mujer”, she responds that she likes the savings that she can generate.

Additional Information

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.